Netherlands-based Treasury, a bitcoin treasury company supported by the Winklevoss twins, has announced plans to list in Amsterdam via a reverse listing with Dutch investment firm MKB Nedsense (MKBN).
The move follows a successful private funding round where Treasury raised 126 million euros ($147 million), led by Winklevoss Capital and Nakamoto Holdings.
The company aims to offer European investors an alternative to traditional cash reserves by holding bitcoin as its main asset, a strategy increasingly popular among firms seeking long-term exposure to bitcoin.
Reverse listing details
The reverse listing transaction offers a 72% premium to MKBN’s closing share price of 7 euro cents on July 11.
After the transaction, the merged entity will be renamed “Treasury N.V.” and is expected to trade under the ticker “TRSR.”
The companies jointly stated their goal is to achieve a post-consolidation share price of 2.10 euros.
Treasury reports it has already accumulated over 1,000 bitcoin in reserves, highlighting its commitment to the asset.
For a broader look at leading public and private firms holding bitcoin, see the bitcoin treasuries database.
Market context and regional trends
Bitcoin has reached all-time highs above $120,000 this year, driven by renewed institutional interest and significant inflows into U.S. spot ETFs.
While Europe has launched several bitcoin exchange-traded products, adoption has lagged behind the U.S. ETF market.
Dutch firm Amdax recently announced similar plans to launch a bitcoin treasury company on Euronext Amsterdam, reflecting growing regional interest in corporate bitcoin reserves.
Next steps for listing
MKBN will hold an extraordinary shareholder meeting to approve the reverse listing.
Upon completion, Treasury N.V. will become publicly traded in Amsterdam, expanding investor access to a dedicated bitcoin treasury vehicle.
The Winklevoss twins, known for founding the Gemini exchange, continue to advance institutional adoption of bitcoin in Europe and beyond.
